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Stocks to Watch: Best Buy, Pfizer

Written by: Joseph Woelfel04/30/13 - 5:42 AM EDT

Tickers in this article:
AET BBY BP DPZ HLF PFE UBS

NEW YORK -- Best Buy, the electronics retailer, is exiting Europe by agreeing to selling its 50% stake in a joint venture with Europe's Carphone Warehouse back to Carphone Warehouse for about $775 million.

Best Buy bought 50% of the mobile-phone company's European retail operations for about $2.1 billion in 2008 as it looked to expand across Europe. But the venture proved costly, and Best Buy had to abandon plans to build megastores on the continent.

British oil company BP posted underlying replacement cost net profit of $4.22 billion in the first quarter, down from $4.65 billion a year earlier. But the first-quarter numbers topped analysts' estimates.

The nutrition specialist reported revenue of $1.1 billion, a 17% increase over the prior year's quarter, topping analysts' estimates of $1.07 billion. Herbalife also enjoyed saw volume growth of 13% from the same period last year.

Excluding items, Herbalife earned $1.27 a share, up from 88 cents a share in the prior year's quarter. Analysts were looking for earnings of $1.07 a share.

The Los Angeles-based company, which has recently faced accusations that it's a pyramid scheme, also raised its 2013 guidance to between $4.60 and $4.80 a share.